Find Research Studies for Money That Are Worthwhile

Many people are motivated to participate in clinical research studies by the chance to help others – to make a unique contribution to medical science. Perhaps just as many seek out new clinical studies so they can gain access to novel treatments that may alleviate their symptoms.

Not much has been written about a third group, those who perform clinical studies for extra money, but they are a significant part of the clinical trial landscape. Clinical studies for money have the opportunity to be larger and more comprehensive than those that do not offer any form of compensation. Offering financial compensation to participants also allows clinical trial study sponsors to more effectively drive the right types of individuals into clinical trials.

Yet, it is important to plan research studies that focus on drug development and offer financial compensation carefully.

Without appropriate preparation, a clinical study for money can face problems that would be unusual for other types of studies. This has the potential to pollute data and affect results. With that in mind, clinical studies for money are best done with by study sponsors with the appropriate experience and expertise.

With the emergence of COVID-19 and its effect on the larger population, research studies for money that are also focused on vaccines have emerged as a way to test new vaccination options. These types of studies generally provide some type of compensation or payment to individuals who participate in order to quickly run trials and get drugs to market. With that, here are some advantages and disadvantages for running research studies for money.

Advantages of Clinical Research Studies for Money

There are distinct advantages to this form of clinical study:

1. More Healthy and Matching Volunteers

All in all, a study sponsor will receive more volunteers for research studies for money than you would without. This can be a significant factor if a sponsor is trying to reach a population that is usually difficult to stir to action. It’s always better to have “too many” volunteers rather than too few, as this gives a sponsor team options.

2. More Referrals for the Study Team

The potential for referrals is another significant boost for a compensation-based study. This can be vital if a study sponsor is working on research related to rare or hereditary conditions. A single study participant could have parents and siblings who are eligible, or participate in online communities where patients gather.

3. Greater Marketing Visibility for Clinical Studies

If a study sponsor is actively marketing or advertising medical studies for money, then making it clear participants may qualify for compensation is a powerful way to get them to seek more information. Of course, sponsors must be careful about what specific statements your marketing makes in relation to finances.

Disadvantages of a Clinical Study for Money

1. Not All Applicants Will Match the Trial Criteria

When they hear of clinical studies for extra money, some people will apply for virtually any opportunity they become aware of. They feel it is up to the organizers of the study to reject them, rather than do appropriate due diligence on their own. This leads to wasted time on administrative tasks.

2. A Thorough Screening Process

For any clinical trial, a thorough screening process is essential to make sure that participants meet the trial exclusion criteria. The trial research team or study sponsor should look to build relationships with potential participants to make sure they are committed to completing a study and will align with any ongoing trial related needs such as completion of diary studies and ongoing interviews and conversations.

3. Applicants May Seek to Change or Manipulate Results

Once they are involved in a study that provides monetary payments, participants are eager to remain until they do receive money. Given this human behavior, it is important to make your expectations clear and structure your study to minimize the potential for individuals to invalidate their own results.

4. Studies Can Be Challenging to Budget

Depending on the stage of your research, you might find you are making a significant investment only to gain nothing in return that you can commercialize. It’s important for administrative, communications, and clinical personnel to work together to understand the contingencies of a study.

Making Clinical Research Studies for Money Successful

1. Clarify the Compensation Model From the Start

It is usually best to have one and only one method by which study participants will earn compensation. For example, some studies compensate participants for travel time, while others offer a flat amount at certain points in the study. Multiple compensation factors can interact in unexpected and costly ways.

2. Set Out Expectations From the Beginning

In the odd event that someone enters your study without meeting all of the qualifications, be sure that the study agreement is structured in such a way as to disqualify them from any compensation. This will discourage people from “surfing” studies they are not a true fit for.

3. Communicate Steps to Your Participants

To get compensation, a participant must obviously do all that’s required of them in the context of the study. This might mean following a treatment plan, taking regularly scheduled blood tests, keeping a symptom journal, and so on. Communicate and re-emphasize steps to the participants in multiple ways.

4. Bring Internal and External Expertise Together

Compensation adds an additional layer of complexity to your study. Be certain everyone in your team is coordinating to improve the upside and control the downside. Early in your study planning, before a marketing strategy is finalized, ensure you have performed a full compliance and legal review.

5. Prepare to Capitalize on Successful Studies

A strong history of research studies for money can help you build rapport within the communities where you must recruit your volunteers. As medical studies for money come to a close, canvas participants to collect testimonials and quotes discussing their positive experiences in the process.

How Are Participants Compensated for Research Studies?

There are a number of ways in which users can receive money for participating in research studies.

1. Free Medical Care

Generally all medical care associated with the clinical trial is covered by the organization running the trial. This includes any tests, trial medications, and any additional medical care related to running the clinical trial.

2. Compensation for Travel

Most clinical trials will offer payment for the travel associated with participating in a research study. Some clinical trials that focus on very specific user groups can even cover travel expenses such as airfare if there is a strong commitment from the participant.

3. Compensation for Time

For many clinical trials, especially ones that are focused on healthy volunteers, compensating participants for their time is an important piece of the trial process. Many trials will require regular check-ins that can happen either in-person or via phone, and given the time commitment necessary to effectively complete a trial it makes sense for people to be compensated.

Clinical studies for money can be a great opportunity for individuals who are looking to assist in the progression of a specific medicine, who are looking for cutting-edge treatment options for a specific disease, or for those who are interested in receiving money or financial compensation for their time and participation. Remember to always discuss your options and details associated with the trial with the study sponsor prior to fully committing. Review our current and upcoming studies for financial compensation here.